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I have seen repeated references to the fact that you cannot implement the Mega Back Door Roth IRA strategy if...

With the first group of Baby Boomers turning age 70 ½ this year, there is a whole new group of IRA owners who will begin taking required minimum distributions (RMDs). It is important that they know the rules about aggregating RMDs in order to avoid this frequent mistake made by individuals, advisors, and even IRA custodians and employer plans.

Hi, I lived in US for 5years and returned to India in 2009. After 2009, I never visited US. while...

Hello, A Non Spouse Beneficiary inherited an IRA in which the owner died after the required beginning date for RMD’s....

This week's Slott Report Mailbag answers a consumer's question on how to handle taxes with charitable gifts and walks a husband through the complicated process of moving IRA funds to a Roth IRA while facing required minimum distributions (RMDs). As always, we recommend you work with a competent, educated financial advisor to keep your retirement nest egg safe and secure.

Bob, widower, died 7-31-2016 with an IRA having the following beneficiaries: 1 His 90 year-old aunt for 10% 2. A...

This is a question about taxation of distributions from a 403(b) plan in regard to New Jersey income taxes. My...

Have you ever made non-deductible IRA contributions? Or, rolled over after-tax funds from your company plan to your IRA? If so, you will want to know about the pro-rata rule. The pro-rata rule is a rule that almost always determines the taxation of an IRA distribution when the IRA owner has any IRA containing after-tax amounts. However, some IRA distributions are not subject to the pro-rata rule. These exceptions may provide an opportunity for you to lower the tax bill that comes with an IRA distribution or conversion.

In general, when you reach age 70 ½, you must begin to take required minimum distributions (RMDs) from your retirement accounts. There are, however, a number of exceptions to this rule. One such exception is commonly known as the “still working exception.” Under this exception, you may not have to take a distribution from your 401(k) or similar plan if...

Guidance on the tax code takes many forms. Some are universal and apply to everyone. Other forms of guidance apply only to the taxpayer who asked for the guidance. Following is the hierarchy of tax guidance and how it interacts with retirement plans.